Federated Hermes Inc. Trims Holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Federated Hermes Inc. decreased its holdings in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 80.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,807 shares of the company's stock after selling 189,696 shares during the period. Federated Hermes Inc.'s holdings in Maravai LifeSciences were worth $293,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MRVI. VELA Investment Management LLC raised its holdings in shares of Maravai LifeSciences by 74.9% during the fourth quarter. VELA Investment Management LLC now owns 74,317 shares of the company's stock valued at $487,000 after purchasing an additional 31,824 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Maravai LifeSciences by 4.8% during the 4th quarter. Mackenzie Financial Corp now owns 5,169,176 shares of the company's stock valued at $33,858,000 after buying an additional 238,335 shares during the period. Simplicity Solutions LLC boosted its stake in shares of Maravai LifeSciences by 83.3% in the 4th quarter. Simplicity Solutions LLC now owns 23,760 shares of the company's stock worth $156,000 after buying an additional 10,796 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Maravai LifeSciences by 83.3% in the fourth quarter. Bleakley Financial Group LLC now owns 23,760 shares of the company's stock worth $156,000 after acquiring an additional 10,796 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its position in Maravai LifeSciences by 351.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 15,292 shares of the company's stock valued at $100,000 after acquiring an additional 11,901 shares during the last quarter. 50.25% of the stock is owned by institutional investors.

Maravai LifeSciences Price Performance

Shares of MRVI traded up $0.17 during trading hours on Friday, reaching $8.97. 1,808,587 shares of the stock traded hands, compared to its average volume of 1,702,184. The company has a market cap of $2.26 billion, a P/E ratio of -9.97 and a beta of 0.03. The company has a current ratio of 8.00, a quick ratio of 7.41 and a debt-to-equity ratio of 0.70. The company's 50-day moving average price is $8.04 and its two-hundred day moving average price is $6.69. Maravai LifeSciences Holdings, Inc. has a 52-week low of $4.52 and a 52-week high of $16.62.

Maravai LifeSciences (NASDAQ:MRVI - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Maravai LifeSciences had a negative net margin of 41.19% and a negative return on equity of 1.31%. The business had revenue of $74.14 million during the quarter, compared to analysts' expectations of $62.99 million. On average, analysts anticipate that Maravai LifeSciences Holdings, Inc. will post -0.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

MRVI has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price target on Maravai LifeSciences from $12.00 to $14.00 and gave the company an "outperform" rating in a research note on Friday, February 23rd. Craig Hallum assumed coverage on shares of Maravai LifeSciences in a report on Wednesday, April 10th. They set a "buy" rating and a $15.00 target price for the company. Finally, Stifel Nicolaus dropped their price target on shares of Maravai LifeSciences from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Maravai LifeSciences presently has a consensus rating of "Moderate Buy" and an average target price of $11.56.

Maravai LifeSciences Company Profile

Maravai LifeSciences Holdings, Inc, a life sciences company, provides products to enable the development of drug therapies, diagnostics, novel vaccines, and support research on human diseases worldwide. The company's products address the key phases of biopharmaceutical development and include nucleic acids for diagnostic and therapeutic applications, antibody-based products to detect impurities during the production of biopharmaceutical products, and products to detect the expression of proteins in tissues of various species.